I want to first start by saying CONGRATULATIONS to Marica who is a proud grandmother this morning! The baby and mom are doing well.
The Economic Train decided she was going to piss on Shitty & Nancy’s impeachment Hoax. Once again the pundits were wrong! The U.S. added 128,000 jobs during the month of October. The consensus was a number <100,0000.
The other incredible news in the Jobs Report was the revisions that were made to August and September figures.
The change in total nonfarm payroll employment for August was revised up by +51,000 from +168,000 to +219,000, and the change for September was revised up by +44,000 from +136,000 to +180,000. With these revisions, employment gains in August and September combined were 95,000 more than previously reported.
In October, average hourly earnings for all employees on private nonfarm payrolls rose by 6 cents to $28.18. Over the past 12 months, average hourly earnings have increased by 3.0 percent.
The unemployment rate ticked up slightly to 3.6%. Among the major worker groups, the unemployment rates for adult men (3.2%), adult women (3.2%), teenagers (12.3%), Whites (3.2%), Blacks (5.4%), Asians (2.9%) and Hispanics (4.1%). Black unemployment rate hit a new record high while Asian and Hispanic unemployment rates remained at all time lows.
You can find the official release at the link below.
Charles Payne is absolutely right that AMERICANS ARE WINNING!
Our President rightfully tweeted this morning about the report.
From the article linked above:
- Nonfarm payrolls rose by 128,000 in October, exceeding the estimate of 75,000 from economists surveyed by Dow Jones.
- There were big revisions of past numbers as well. August’s initial 168,000 payrolls addition was revised up to 219,000, while September’s jumped from 136,000 to 180,000.
- The unemployment rate ticked slightly higher to 3.6% from 3.5%, still near the lowest in 50 years.
- The pace of average hourly earnings picked up a bit, rising 0.1% to a year-over-year 3% gain.
Nonfarm payrolls rose by 128,000 in October as the U.S. economy overcame the weight of the GM autoworkers’ strike and created jobs at a pace well above expectations.
Even with a decline of 42,000 in the motor vehicles and parts industry, the pace of new jobs well exceeded the estimate of 75,000 from economists surveyed by Dow Jones. The loss of jobs came due to the General Motors strike that has since been settled. That 42,000 job loss itself was less than the 50,000 or more that many economists had been anticipating.
The unemployment rate for African Americans nudged down to a record low 5.4%. Also, the total employment level as measured in the household survey jumped to 158.5 million, also a new high.
“This report is yet another sign that the economy is still strong right now and adds to a list of indicators that are looking optimistic of late,” said Steve Rick, chief economist at CUNA Mutual Group. “The vigor of this labor market, along with a more positive housing market and solid Q3 GDP, should offer some welcome reassurance.”
Even the lame stream media couldn’t hide the reality that Americans are WINNING Bigly!
More great economic data!
From the article linked above:
The Bureau of Economic Analysis (BEA) reported personal income gained $50.2 billion (0.3%) in September and revised higher to a 0.5% gain for August. Gains were largely driven by the wages and salaries, and higher benefits.
Forecasts ranged from a low of 0.1% to a high of 0.4%. The consensus forecast was right on the money at 0.3%.
Disposable personal income (DPI) rose $55.7 billion (0.3%), while Real DPI gained 0.3 in September and Real PCE increased 0.2 percent
While our economy continues to steam along, the Chinese are in some serious trouble that will only get worse over time.
From the article linked above:
Chinese manufacturing activity fell to an eight-month low in October, an official gauge showed, raising another warning signal as hopes for a U.S.-China trade truce were dealt a further blow.
China’s official gauge of factory activity, the manufacturing purchasing managers index, dropped to 49.3 in October from 49.8 in September, the National Bureau of Statistics said Thursday.
The index has stayed below the 50 mark, which separates expansion from contraction, for six straight months, indicating worsening business sentiment despite the government’s efforts to spur economic growth.
Economists were expecting factory activity to have held steady this month, partly due to easing trade tensions between China and the U.S.
“The latest PMI again proved that China’s economy is under notable downward pressure,” Ms. Zhou said. “I don’t think an interim trade deal in November can quickly turn the situation around.”
Even if a partial trade deal were reached, that alone probably wouldn’t help China’s economy in the absence of other policy supports, said Serena Zhou, an economist at Mizuho Securities.
This announcement by our Wilburine absolutely scared the living daylights out of China.
Those countries in Asia that have benefited greatly by the actions taken by our President against China know that it is time to pay the piper!
At the same time, the Trump Judicial Armada is going to get some more reinforcements at the District, Appellate and U.S. Federal Claims Court.
Once the 9th Circuit judge is confirmed, the breakdown will be 16 Democrat appointed judges versus 13 Republican appointed judges.
I am not going to waste your time or my time talking about the BS farce that is happening in the House. I will provide data that shows that Americans want nothing to do with the impeachment of our President in the states that matter the most.
I was so happy that our President announced that when he leaves the White House, he and his family will live in the Great State of Florida!
I had some choice words for the Governor of New York.
This also means that his Presidential Library will be located in Florida as well.
Speaking about Florida, data was released yesterday that confirms my strong belief that Governor Ron DeSantis will become our 46th President. Keep in mind when looking at the data that Florida statewide elections are always within a margin of 1 to 3 points.
Governor DeSantis is following our Lion’s playbook to a tee. He understands that Immigration will always be front and center in the mind of voters throughout our country. The fact that he has the balls to push for E-verify in the state, he isn’t afraid or intimidated by anyone.
I want this truck!
Another incredible video put out by our President showing Americans that he will never stop fighting for us.
The POWER OF PRAYER!
God Bless PDJT!